Costco vs. Walgreens: Where Should You Get Your Prescriptions?

You don't need to be a member of Costco to take advantage of their low prescription prices.

When it comes to prescription drugs, cost is one of the most important factors to consider. Fortunately, there are two major retail chains that offer competitive prices on both generic and brand-name prescriptions -- Costco and Walgreens. But which one should you choose?

Costco vs. Walgreens: Convenience

I was recently traveling out of state and forgot to pack my medication. Luckily, there was a Walgreens right around the corner and after a few short calls, I was able to pick up my meds quickly. In terms of convenience, Walgreens wins hands down. There are 583 Costco locations in the U.S. compared to 9,021 Walgreens locations in the U.S., almost 16 times more than Costco! Walgreens also has an advantage in terms of hours. Many locations are open 24/7 while some Costco locations close early or aren't open on Sundays or holidays.

Both do offer mail delivery. So if you don't need to worry about visiting a location to pick up your medications, then the number of locations may not matter. But if you need to pick up your medication in person outside of regular business hours or don't have a Costco near you, then Walgreens might be a better option for you.

Costco vs. Walgreens: Prices

When it comes to pricing, Costco has a clear advantage over Walgreens. Like their other products, Costco has lower prices across the board. In addition, you don't need to pay for a membership to enjoy the perks of Costco's savings and get your prescription filled at Costco.

However, Costco offers the Costco Member Prescription Program, which is a prescription drug discount card program that provides even a larger discount for prescription meds. You have to be a Costco member to join and the discount card does not pay or provide reimbursement for prescription drug purchases like health insurance does. It only provides you with better prices on that medication. Also, participants are required to pay the discounted price for the prescription in full at the time of purchase.

You will need to take into account how much money you spend to see if it is worth both the cost of membership as well as the program. One important thing to note is to see if your insurer has a preferred store they want you to use. Some have individual deals they have with various pharmacies, so you should find out which one offers the best prices.

When it comes to prescription drugs, there are pros and cons to both Costco and Walgreens. When it comes to prices and saving more money, Costco has an edge, but Walgreens wins when it comes to convenience. Ultimately though, which store works best for your needs will depend on what type of medication you need as well as how often (or how quickly) you need it -- so do your research before making your final decision.